what is interest rate on unpaid taxes

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Subject Author Date what is interest rate on unpaid taxes removeps-groups@yahoo.com 10-14-2009  Re: what is interest rate on unpaid taxes Phil Marti 10-16-2009
Posted by removeps-groups@yahoo.com on October 14, 2009, 2:08 pm Please log in for more thread options Where on the IRS website can I find what is the interest rate on unpaid taxes. I imagine this will be the interest rate charged during an installment agreement, or if you just didn't pay your tax on time; is that so? Best I could find after a google search is a revenue ruling. http://www.irs.gov/pub/irs-drop/rr-08-54.pdf Section 6621.--Determination of Rate of Interest >From the last line in page 7 it looks to be 5% for Jan. 1, 2009--Mar. 31, 2009. Is that true? What about now? -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Posted by Phil Marti on October 16, 2009, 7:35 am Please log in for more thread options On Oct 14, 2:08 pm, "removeps-gro...@yahoo.com" wrote: > Where on the IRS website can I find what is the interest rate on > unpaid taxes.  I imagine this will be the interest rate charged during > an installment agreement, or if you just didn't pay your tax on time; > is that so? Search on "underpayment interest." The rate adjusts quarterly and is 4% through the end of 2009. Add to that failure to pay penalty, which is 6% until: 1. You ignore things until IRS issues a formal notice of intent to levy, at which time the rate goes to 12%; or 2. You enter into an installment agreement, at which time the rate goes to 3%. Phil Marti Clarksburg, MD -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Similar Threads Posted How to pro-rate home equity interest deduction February 23, 2009, 11:39 pm Unpaid Overtime March 17, 2008, 9:59 pm can a non-profit show unpaid pledges as assets? June 18, 2008, 12:54 pm Taxes on Bond Interest March 7, 2009, 10:30 pm State Taxes on Federal Interest April 2, 2009, 10:17 pm Who pays taxes on the interest a rental deposit generates? March 26, 2008, 7:02 am 50% Tax Rate. How Does This Happen? January 29, 2008, 10:25 am Supplemental Tax Rate July 15, 2008, 6:51 pm Capital gains rate September 21, 2008, 3:49 pm calculating marginal tax rate October 28, 2008, 10:25 pm